OTCPK:MEAOD - Post by User
Comment by
Geodan2on Oct 28, 2015 8:22pm
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Post# 24237062
RE:RE:RE:RE:RE:Headline: Metanor Reports its Financial Results for the Quar
RE:RE:RE:RE:RE:Headline: Metanor Reports its Financial Results for the QuarWind, it looks cash positive to me but it is a loss profit wise. Fortunatley Stockhouse maintain formating, so results below.
The bad, their operating costs went up a million and depreciation up 400K, besides that about same as 2Q. So they are cashflowing. For Q its 3.4 mill depreciation. There all in sustaining cost is low which should mean a profit, just not cashflow.
Its not a disaster, they seem to have trouble maintaining costs even though moving same tonnage. The good, grade is up. See no mention of CC. Do they have Q calls?
VAL-D'OR, QUEBEC--(Marketwired - Oct 28, 2015) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) is pleased to report on its financial results for the quarter and year ended June 30th 2015 (Q4). This press release should be read in conjunction with Metanor's financial statement for the year ended June 30th 2015 and related Management's Discussion and Analysis (MD&A), which can be found on the Company website www.metanor.ca or on SEDAR www.sedar.com. All amounts are in Canadian dollars unless otherwise stated.
Q4 2015 Highlights
- Gold sales of 10,626 ounces on gold production of 10,277 ounces.
- Total of $13,989,447 in revenues from gold sales in Q4 at an average sale price of $1,317 per ounces sold (US$1,054/oz at an exchange rate of US$0.80/CA$1.00).
- Net loss of $ 1,578,196 for the quarter.
- Milled 58,498 tonnes of ore at a feed grade of 5.7 g/T and a recovery of 96.5%.
- Cash Cost of $1,031 per ounce sold in Q4 (US$825/oz at an exchange rate of US$0.80/CA$1.00).
- Sustaining cost of $1,208 per ounce sold (US$966/oz using an exchange rate of US$0.80/CND$1.00).
- All-In cost of $1,221 per ounce sold in Q4 (US$977/oz at an exchange rate of US$0.80/CA$1.00).
Full-Year 2015 Highlights
- Total of $55,097,921 in revenues from gold sales.
- Net loss of $ $6,264,748 for the year.
- Cash Cost of $1,050 per ounce sold in 2015 (US$840/oz at an exchange rate of US$0.80/CA$1.00).
- Sustaining cost of $1,218 per ounce sold in 2015 (US$974/oz using an exchange rate of US$0.80/CND$1.00).
- All-In cost of $1,245 per ounce sold in 2015 (US$996/oz at an exchange rate of US$0.80/CA$1.00).
| Operating and financial results |
Quarter
ended
June
30th 2015 |
|
Quarter
ended
March
31st 2015 |
|
Quarter
ended
December
31st 2014 |
|
Quarter
ended
September
30th 2014 |
|
Year
total |
|
| Operational results |
|
|
|
|
|
|
|
|
|
|
| Tonnes milled (Tonnes) |
58,498 |
|
60,365 |
|
59,013 |
|
56,949 |
|
234,825 |
|
| Feed grade (g/T) |
5.7 |
|
5.3 |
|
4.6 |
|
6.5 |
|
5.5 |
|
| Mill recovery rate |
96.5 |
% |
96.1 |
% |
96.3 |
% |
97.0 |
% |
96.5 |
% |
| Ounces produced |
10,277 |
|
9,860 |
|
8,332 |
|
11,598 |
|
40,067 |
|
| Ounces sold |
10,626 |
|
9,518 |
|
9,055 |
|
12,043 |
|
41,242 |
|
| Underground development (metres) |
1,379 |
|
1,920 |
|
1,698 |
|
1,639 |
|
6,636 |
|
| Diamond drilling (metres) |
9,301 |
|
4,399 |
|
5,735 |
|
11,566 |
|
31,001 |
|
| Financial results (Thousand dollars) |
|
|
|
|
|
|
|
|
|
|
| Gold Sales |
13,989 |
|
13,499 |
|
11,732 |
|
15,878 |
|
55,098 |
|
| Operating Costs |
(10,664 |
) |
(9,682 |
) |
(10,723 |
) |
(11,240 |
) |
(42,309 |
) |
| Royalties |
(292 |
) |
(279 |
) |
(187 |
) |
(230 |
) |
(988 |
) |
| Depreciation & Depletion |
(3,469 |
) |
(3,076 |
) |
(2,951 |
) |
(3,637 |
) |
(13,133 |
) |
| Gross Profit |
(435 |
) |
462 |
|
(2,130 |
) |
771 |
|
(1,332 |
) |
| Net Results |
(1,578 |
) |
17 |
|
(3,746 |
) |
(958 |
) |
(6,265 |
) |
Outlook for the coming quarters